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Big Bear Mining Corp. Announces Letter of Intent to Acquire Ten Properties in Rattlesnake Hills Wyoming and Names New VP of Exploration
6:00a ET July 7, 2010 (PR NewsWire)
Big Bear Mining Corp. (OTC Bulletin Board: BGBR) is pleased to announce that it has signed a Letter of Intent to acquire a 100% interest in ten properties in Rattlesnake Hills which is located in Natrona County, Wyoming. The final execution of this acquisition is scheduled to be completed within two weeks, upon closing and details of the transaction will be released upon the execution of the definitive agreements for the acquisition.
The properties are considered to be highly prospective due to their proximity to newly discovered gold mineralization on the adjacent property held by Evolving Gold ("EG"). EG has announced that it plans to drill over 60,000 feet this season after drilling success in 2008 and 2009. The area was formerly explored by Inco, Newmont, and Canyon Resources.
We look forward to closing this acquisition and beginning a drilling program on these properties later this season. Considering the proximity and the preliminary work already completed prior to our acquisition, we are optimistic about the near term possibilities that are represented in the Rattlesnake Hills," stated Steve Rix, CEO of Big Bear Mining.
Big Bear is also pleased to announce, in conjunction with this acquisition, that John Glasscock, who is the owner of the Rattlesnake Hills claims, has accepted an expanded role with Big Bear as the VP of Exploration. He also serves on the Board of Directors. The company is currently funding an exploration program upon further analysis of the existing data and execution of a final agreement.
About Big Bear:
Big Bear Mining Corp. is a U.S. based exploration and development company, focused on the acquisition and development of gold and other precious commodity projects which demonstrate high probability for near term production. Big Bear is a fully reporting company quoted on the OTCBB under the symbol BGBR.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, closing the Rattlesnake Hills acquisition, beginning a drilling program on these properties later this season and the near term possibilities that are represented in the Rattlesnake Hills, and how long the work will take and any results from such exploration.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE Big Bear Mining Corp.
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